- A leading telecommunications company was looking to standardize the review and negotiation of important high volume agreements across regions while building in scalability to handle anticipated growth.
- The lack of consistency in review and process created inefficiencies and significant cost variations by region.
- In Lumen, they found an experienced partner who created a cutting-edge technology platform, developed consistent processes and playbooks, offered quick contract turnarounds, provided detailed reporting and ensured cost certainty.
A well-known telecommunications company was seeking to optimize its intake, allocation and review process for high volume agreements. They were being inconsistently reviewed and negotiated because there was no consistent processes or playbooks. In addition, cost was too high because some regions did the work in-house while others used outside counsel. They partnered with Lumen to find a scalable solution.
- Lumen met with the in-house team to fully understand and document processes, develop negotiating playbooks and apply best practices.
- In addition, a web-based intake technology was developed to provide an end-to-end contract management platform.
- SLAs were established to ensure timely contract review. Reporting allowed the client to track progress.
- As a result, Lumen has become an integral part of the legal team.
The Lumen solution allowed the telecommunications company to achieve consistency and cost control with their high volume contracts which allowed their legal team to focus on their core business. The company is now evaluating other types of contracts that may benefit from the help of the Lumen team.